GE Aerospace Wins Defense Contract For Hypersonic Test Platform

Venezuela signed oil agreements with Chevron, Eni, and GE in Caracas. Chevron's deals involve joint ventures with PDVSA, while Eni secured a production-sharing contract in the Orinoco Oil Belt. GE will help restore Venezuela's oil industry electrical infrastructure. US Secretary of Energy Chris Wright attended the signing.

GE Aerospace plans to invest $163 million in four North Carolina sites, part of a $1 billion U.S. manufacturing investment. Funds will upgrade equipment, expand capacity, and add jobs. The company aims to hire 5,000 U.S. workers. GE Aerospace shares have more than doubled since its April 2024 spin-off, closing at $321.93.

GE Aerospace secured a Pentagon contract to develop an air-launched hypersonic test vehicle, Derecho, capable of Mach 5. The vehicle will use GE's dual-mode ramjet technology and serve as a test platform for the HyCAT program. The first flight is targeted for 2028, marking GE's first in-flight demonstration of its liquid-fueled dual-mode ramjet. The contract funds vehicle integration and initial tests, with no disclosed value.

GE Aerospace received a contract from the US Defense Innovation Unit to develop a liquid-fueled hypersonic test platform for the HyCAT program. The company will design a combined booster and cruiser system for hypersonic testing, building on previous development phases. According to GE, this work supports national defense priorities and advances next-generation hypersonic capabilities.

US energy firms Chevron, GE Vernova, and ENI signed multi-billion-dollar deals with Venezuela, granting Washington control of 65 billion barrels of oil reserves. Chevron plans to invest $7 billion over five years, aiming to double production. Critics question the deal's legitimacy and sovereignty implications. Venezuela expects $209 billion in profit over 25 years, according to interim President Delcy Rodriguez.

Manitoba Hydro considers a $3B deal with GE Vernova for natural gas turbines, despite criticism from environmental groups due to the company's political donations. The turbines aim to address a projected energy shortfall by 2030, producing 750 megawatts. The province's energy regulator is reviewing the proposal, with recommendations expected later this year. GE Vernova was the only final bidder, and delays could impact Manitoba's energy reliability and finances, according to officials.